AI Market Size Statistics (2025-2032)
Artificial intelligence (AI) is far from new. However, the emergence of AI chatbots like ChatGPT and Bard has thrust AI into the limelight.
As such, the AI market is booming and continues to grow year-over-year.
Below, we’ll focus on the growing AI market, taking a look at projected valuation and regional differences, among other aspects.
Contents
- AI Market Statistics (Top Picks)
- AI Market Size
- AI Market Growth Projections
- AI Market Growth Over Time
- Growth Drivers in the AI Space
- Key Players in the AI Space
- AI Market Geographic Breakdown
- AI Growth By Segment
AI Industry Statistics (Top Picks)
- The global AI market is worth almost $300 billion.
- The AI market is set to hit $1.77 trillion by 2032.
- The North American AI market is worth over $51 billion.
- AI healthcare is set to grow 17x over the course of this decade.
- 88% of financial service companies increased revenue thanks to AI adoption.
AI Market Size
According to the latest available data, the global AI market is worth approximately $294.16 billion.
That figure is up from 2024's $233.46 billion.
Source: Fortune Business Insights
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AI Market Growth Projections
By 2032, the AI market is predicted to reach $1.77 trillion.
That’s almost 6x more than 2025’s figure of $294.16 billion.
Source: Fortune Business Insights
AI Market Growth Over Time
Between 2024 and 2032, the global AI market is expected to grow at a CAGR of 29.2%.
Here’s a detailed look at the AI market’s valuation from 2021 to 2032:
Year |
Market Size |
Change Over Previous Year |
2024 |
$233.46 billion |
- |
2025 |
$294.16 billion |
↑ $60.7 billion |
2026 |
$380.05 billion |
↑ $85.89 billion |
2027 |
$491.03 billion |
↑ $110.98 billion |
2028 |
$634.41 billion |
↑ $143.97 billion |
2029 |
$819.66 billion |
↑ $185.25 billion |
2030 |
$1.06 trillion |
↑ $240.34 billion |
2031 |
$1.37 trillion |
↑ $310 billion |
2032 |
$1.77 trillion |
↑ $400 billion |
Source: Fortune Business Insights
Growth Drivers in the AI Space
Continuous investment in AI has fueled rapid technological advancements in recent years. AI has penetrated many industries, including:
- Healthcare
- Automotive
- Financial Services
- Retail and Consumer
- Communications
- Entertainment
- Manufacturing
- Energy
- Transport and Logistics
AI’s versatility is perhaps its biggest pro. From behind-the-scenes algorithms to end-user integration, AI is fast becoming a staple across virtually every industry.
Source: PrecedenceResearch
Key Players in the AI Space
- Intel Corporation (US)
- Microsoft (US)
- IBM (US)
- Google (US)
- Amazon Web Services (US)
- Baidu (China)
- NVIDIA Corporation (US)
- H2O.ai (US)
- Lifegraph (Israel)
- Sensely (US)
- Enlitic (US)
- AiCure (US)
- HyperVerge (US)
- Arm Limited (UK)
- Clarifai (US)
- Advanced Micro Devices (US)
- Atomwise (US)
- Enlitic (US)
- Iris.ai (Norway)
- Zebra Medical Vision (Israel)
- OpenAI (US)
- Midjourney (US)
Sources: Precedence Research, Grand View Research
AI Market Geographic Breakdown
As of 2025, the North American AI market is valued at $51.58 billion.
Asia-Pacific is the next-largest AI market with a valuation of $32.89 billion, followed by Europe with $26.54 billion.
Here’s a breakdown of the regional AI market growth between 2018 and 2025:
Year |
North America |
Asia-Pacific |
Europe |
Latin America |
Middle East and Africa |
2018 |
4.11 billion |
2.72 billion |
2.09 billion |
0.35 billion |
0.24 billion |
2019* |
6.36 billion |
4.15 billion |
3.27 billion |
0.55 billion |
0.37 billion |
2020* |
9.8 billion |
6.31 billion |
5.05 billion |
0.86 billion |
0.56 billion |
2021* |
15.08 billion |
9.73 billion |
7.84 billion |
1.34 billion |
0.87 billion |
2022* |
22.23 billion |
14.25 billion |
11.52 billion |
1.96 billion |
1.31 billion |
2023* |
30.9 billion |
19.59 billion |
15.94 billion |
2.73 billion |
1.78 billion |
2024* |
41.06 billion |
26.15 billion |
21.17 billion |
3.64 billion |
2.39 billion |
2025* |
51.58 billion |
32.89 billion |
26.54 billion |
4.57 billion |
3.03 billion |
Source: Tractica
AI Growth By Segment
Here’s how AI is growing across various key industries:
Healthcare
In 2023, the AI healthcare market was worth an estimated $20.65 billion.
As of 2025, this figure stands at almost double that ($38.66 billion).
And in the space of a decade, AI healthcare is predicted to reach a valuation of over $187 billion – around 17x 2021’s figure.
Here's how AI healthcare's market size has changed over time:
Year |
Market Size |
2021 |
$11.06 billion |
2022* |
$15.1 billion |
2023* |
$20.65 billion |
2024* |
$28.24 billion |
2025* |
$38.66 billion |
2026* |
$52.97 billion |
2027* |
$72.62 billion |
2028* |
$99.63 billion |
2029* |
$136.66 billion |
2030* |
$187.95 billion |
Chips
The AI chips market has quadrupled in value since 2021 ($10.8 billion), reaching $44.3 billion in 2025.
By 2028, it is predicted to have skyrocketed to $127.8 billion – around 12x growth in 7 years.
Here is how the AI chips market has changed over time:
Year |
Market Size |
2021 |
$10.8 billion |
2022* |
$15.8 billion |
2023* |
$21.9 billion |
2024* |
$31.1 billion |
2025* |
$44.3 billion |
2026* |
$63.1 billion |
2027* |
$89.8 billion |
2028* |
$127.8 billion |
Finance
In the finance industry, AI has already contributed to significant revenue increases.
More than one-third (34%) of finance institutions reported revenue increases of over 20%.
While 51% of finance companies have increased revenue by at least 10% thanks to AI.
In total, 88% of finance firms saw revenue increases since the incorporation of AI:
Revenue Increase |
Percentage of Applicable Financial Service Institutions |
More than 20% |
34% |
Between 10% and 20% |
17% |
Between 5% and 10% |
20% |
Less than 5% |
16% |
No impact |
12% |
Sources: Precedence Research, Stratview Research, Nvidia
Key Takeaways
AI is currently transforming virtually every industry imaginable.
Consequently, its projected industry value is set to take off over the coming years.
For more related content, take a look at Top AI Trends and Amazing Artificial Intelligence Statistics.
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Written By
Fabio is a research associate at Exploding Topics. Since 2021, Fabio has researched, written, and edited articles for the Explo... Read more